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Greenback Extends Weakness Approaching WMR, EURUSD Tests 20-day EMA

USD
  • The USD is extending the move lower from yesterday with notable strength in AUD (+0.8%) and NZD (+1.00%) continuing.
  • EURUSD firming above 1.1750 and currently testing the 20-day EMA at 1.1764 ahead of the WMR fix. Cable also briefly testing the overnight highs just shy of 1.3742.
  • USDCAD's confirmation of a short-term reversal pattern has extended past the 20-day EMA and now may target 1.2509, the 50-day EMA with the added CAD tailwind of recovering commodity prices, especially the near 2.5% rally in crude to add to yesterday's gains.

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